Typically, the more time suppliers have to adjust to changing market conditions,
A) the more elastic the supply curve.
B) the more elastic the demand curve.
C) the less elastic the supply curve.
D) the less elastic the demand curve.
A
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In the 1965 to 1973 period, U.S. policymakers ________
A) targeted an unemployment rate that, in hindsight, was likely too low B) pursued an easing of monetary policy designed to increase aggregate demand C) made some mistakes that led to the most sustained inflationary episode in U.S. history D) all of the above E) none of the above
Whether exchange is between individuals, firms, or countries, voluntary trade occurs because:
a. only one party is made better off. b. both parties are made better off. c. financial agents devote resources to arranging such trades. d. these trades create employment for the economy. e. of mandates from the government.